Worldcoin Wallet App Surpasses 1M Downloads

Worldcoin’s World App exceeds one million wallets, while 346,568 wallets are already holding Worldcoin (WLD) tokens

Worldcoin Wallet App Surpasses 1M Downloads

Worldcoin’s World App, a trending crypto project co-founded by OpenAI CEO Sam Altman, has been illustrating impressive statistics, garnering global attention since its official launch. In just one week, the ecosystem, providing a unique ID and crypto wallet supporting various cryptocurrencies, reached 1,015,783 wallets, including 346,568 Optimism wallets holding WLD tokens.

In addition, this figure does not include pre-release wallets that have yet to be migrated to Optimism. That means the number of World App users might swiftly rise as soon as all the wallets finalize the migration.

The company behind Worldcoin, Tools for Humanity, was incorporated in 2019 and co-founded by Altman, Alex Blania and Max Novendstern. This revolutionary cryptosystem has been advertised as a secure and private way for all humans on Earth to prove they are real in the online world of sophisticated AI-generated bots and deepfakes without sharing personal data.

For this purpose, the firm has started distributing Orbs, biometric verification devices, across 18 countries where people can receive a World ID. Over 2 million people have reportedly used the services of Orbs iris-scanning so far, even in those countries where underlying cryptocurrency is not available.

By the second day of trading the native token of this iris-scanning crypto startup surged over 20%. Today it trades at $2.28. Active trading is now facilitated by a few major global crypto exchanges, including Binance, Huobi, Bybit and OKX.

While the hype grows, European investigators are already alarmed about the new crypto technology. For instance, France’s privacy watchdog, CNIL, has expressed concerns over the legality of Worldcoin’s iris-scanning process and the conditions of its storing sensitive biometric data.

CNIL’s investigation discovered that jurisdiction over the project lies with the Bavarian state authority in Germany, now continuing the investigation with CNIL’s support.

In other parts of the world, the attitude of the regulators to the new project is also cautious. In Kenya, where iris-scanning comes along with the distribution of “free crypto,” the local data regulator ODPC is now conducting an “assessment of Worldcoin’s practices to ensure compliance with the law.”

Nina Bobro

1428 Posts 0 Comments

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.